'Line up and wait behind the landing aircraft' is a commonsense procedure and poses no danger as long as both parties understand what is required.
'Position and hold' however has always been an accident waiting to happen
(as indeed it did a few years ago in LA) Controllers can get distracted and
'forget' the holding traffic, especially at night with the aircraft hard to see, (LA) furthermore, in the US, controllers commonly clear aircraft to land with several aircraft ahead of them and/or departing aircraft still on the runway.
A dubious procedure at best...